Rhumbline Advisers increased its position in shares of Banner Co. (NASDAQ:BANR) by 14.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 81,578 shares of the financial services provider’s stock after acquiring an additional 10,050 shares during the quarter. Rhumbline Advisers’ holdings in Banner were worth $4,497,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. California Public Employees Retirement System lifted its holdings in shares of Banner by 9.9% during the third quarter. California Public Employees Retirement System now owns 59,211 shares of the financial services provider’s stock worth $3,628,000 after purchasing an additional 5,311 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in Banner by 35.3% in the third quarter. State Board of Administration of Florida Retirement System now owns 26,890 shares of the financial services provider’s stock valued at $1,648,000 after acquiring an additional 7,010 shares during the period. SG Americas Securities LLC lifted its holdings in Banner by 307.8% in the third quarter. SG Americas Securities LLC now owns 14,452 shares of the financial services provider’s stock valued at $886,000 after acquiring an additional 10,908 shares during the period. Bank of New York Mellon Corp lifted its holdings in Banner by 4.8% in the third quarter. Bank of New York Mellon Corp now owns 2,405,805 shares of the financial services provider’s stock valued at $147,428,000 after acquiring an additional 110,369 shares during the period. Finally, Convergence Investment Partners LLC acquired a new position in Banner in the third quarter valued at approximately $1,132,000. 92.11% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on BANR shares. Sandler O’Neill reissued a “buy” rating on shares of Banner in a report on Friday, January 26th. Zacks Investment Research raised Banner from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Friday, January 12th. BidaskClub raised Banner from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Piper Jaffray Companies reissued a “hold” rating and issued a $58.00 price target on shares of Banner in a report on Friday, February 2nd. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $58.00 price target on shares of Banner in a report on Friday, January 26th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $60.25.
Banner Co. (NASDAQ:BANR) opened at $57.67 on Monday. Banner Co. has a twelve month low of $51.61 and a twelve month high of $62.75. The stock has a market capitalization of $1,881.55, a P/E ratio of 19.35, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.95.
Banner (NASDAQ:BANR) last announced its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.08). The company had revenue of $128.15 million during the quarter, compared to analyst estimates of $126.56 million. Banner had a net margin of 12.02% and a return on equity of 7.55%. equities research analysts predict that Banner Co. will post 3.48 EPS for the current fiscal year.
Banner Corporation is a bank holding company. The Company is engaged in the business of planning, directing and coordinating the business activities of its subsidiaries, Banner Bank and Islanders Bank. Banner Bank is a Washington-chartered commercial bank. Banner Bank is a regional bank, which offers a range of commercial banking services and financial products to individuals, businesses and public sector entities in its primary market areas.
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